- Secures purchase order increase from Fertoz Ltd. for
additional soft rock phosphate production to fill market gap for
sustainable fertilizer
- Use of micronized minerals as fertilizer shown to
substantially increase carbon sequestration in soil, reduce nitrous
oxide emissions and improve overall crop yields
- Completes successful operational integration with recently
closed acquisition Absorbent Products Ltd.
VANCOUVER, BC, March 10, 2022 /CNW/ - Progressive Planet
Solutions Inc. (TSXV: PLAN) ("PLAN",
"Progressive Planet" or the "Company"), an emerging
technology provider of innovative circular solutions and
eco-friendly micronized minerals for agriculture, construction and
industry, is pleased to announce it is leveraging recent R&D
activity to expand operations and become a national toll processing
provider of micronized minerals in the natural and organic
fertilizer industry.
The Company also announces an expanding business relationship
with Fertoz Ltd (ASX: FTZ) ("Fertoz"), having received a new
Purchase Order for additional comminution services focused on
micronizing soft rock phosphate for use as organic fertilizer. All
processing and production will be carried out at the
recently-acquired Absorbent Products manufacturing facility
in Kamloops, BC, which will
support the Company's plans to significantly scale customized toll
processing and production work.
"We've identified carbon sequestration as a massive opportunity
area across the agricultural industry. This is where science and
technology come together and help break down, activate and release
mineral nutrients and other building blocks essential to all
agriculture practices," said Ian
Grant, VP of Business Development, Progressive Planet.
"Micronized mineral toll processing is a key that opens doors to
everything from soil restoration to greenhouse gas reduction to
reducing dependency on chemical fertilizers."
When micronized minerals such as soft rock phosphate are applied
to farming fields, there's a correlation between increased yields
and plant biomass, organic matter build up and carbon sequestration
where carbon is effectively transformed and trapped in soil. Soil
is the second biggest carbon sink after the oceans, and is not only
considered by many experts to be the most logical place to put
excess carbon, but also shows additional benefits such as increased
crop yields and soil moisture retention.
Worth an estimated $170B, the
global fertilizer industry is currently dominated by synthetic
based fertilizers that incorporate nitrogen, phosphorus, potassium
and other nutrients. However, the price of chemical-based
fertilizers, in addition to herbicides, land, and labor have
altered the supply chain. Raw materials and production costs have
risen, and when combined with recent geopolitical events and strong
demand, fertilizer prices are at an all-time high.
PLAN is working with customers who service the agricultural
industry and are targeting end consumers who are looking for
chemical free-soil additives and fertilizers that work just as
well, or better, than chemical alternatives. Local regulations
banning chemical soil additives, along with general health
concerns, are also prompting many throughout the agricultural
industry to move to natural and organic fertilizers.
"As companies move toward natural alternatives, they are looking
for partners that can provide high-quality, low-carbon products
while having flexibility to manufacture large quantities of
multiple formulations without supply chain constraints," Grant
continued. "Equally important, to be certified as an organic
micronized mineral, companies must certify that their comminution
process is free of non-organic materials, and that the end product
has not been contaminated. PLAN enjoys a unique competitive
advantage in these areas, making us a valuable supply chain
partner."
Progressive Planet specializes in custom toll processing
services, offering clients a wide variety of precision particle
configurations of varying sizes and tailored to their
specifications. The Absorbent Product acquisition has brought two
complementary companies together, unifying top-notch talent and
state-of-the-art equipment and facilities under one shared vision
to begin meeting the growing demands of the natural and organic
fertilizer industry.
Progressive Planet's mission is to strengthen industry through
sustainable innovation, providing earth-conscious pathways and
products that radically decarbonize concrete production and
re-mineralize agricultural operations. Our circular solutions and
portfolio of micronized minerals represent a new era of
environmental science where natural raw materials are introduced to
minimize carbon footprints, sequester greenhouse gasses and provide
a safer and superior alternative to man-made
byproducts.
About Progressive Planet
Progressive Planet is a disruptive tech innovation company
providing circular solutions and earth-friendly micronized minerals
that naturally unlock sustainability benefits across the
construction, agriculture and industrial sectors. Tapping into the
earth's inherent binding powers and properties, PLAN is developing
and producing a portfolio of proprietary solutions focused on
sequestering CO2 and minimizing carbon footprints to help our
customers build, grow and operate more responsibly.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements:
This news release contains forward-looking information within
the meaning of Canadian securities laws. Although the Company
believes that such information is reasonable, it can give no
assurance that such expectations will prove to be correct.
Forward looking information is typically identified by such
words as "believe," "expect," "anticipate," "intend," and similar
expressions, or are those that, by their nature, refer to future
events. The Company cautions investors that any forward-looking
information provided by the Company are not guarantees of future
results or performance, and that actual results may differ
materially from those in forward looking information as a result of
various factors, including but not limited to: the Company's
ability to complete the acquisition as described; the Company's
ability to complete the proposed private placement; the general
state of the industry in which the Company operates; the state of
financial markets generally; and other risks and factors that the
Company is not aware of at this time.
SOURCE Progressive Planet Solutions